The comparative statements of Swifty Interiors Ltd. are presented as follows: SWIFTY INTERIORS LTD. Income Statement For the Year Ended December 31 2021 Net sales $2,165,750 Cost of goods sold 1,141,000 Gross profit 1,024,750 Selling and administrative expenses 508,000 Income from operations 516,750 Other expenses and losses Interest expense 18,000 Income before income taxes 498,750 Income tax expense 106,775 Profit $391,975 2020 $1,829,500 1,006,500 823,000 486,000 337,000 15,000 322,000 61,000 $261,000 2020 2019 $129,100 106,400 136,000 371,500 600,300 $971,800 $110,800 103,000 114,500 328,300 514,300 $842,600 SWIFTY INTERIORS LTD. Balance Sheet December 31 Assets 2021 Current assets Cash $90,000 Accounts receivable 185,400 Inventory 217,800 Total current assets 493,200 Property, plant, and equipment (net) 640,700 Total assets $1,133,900 Liabilities and Shareholders' Equity Current liabilities Accounts payable $287,175 Income taxes payable 44,000 Total current liabilities 331,175 Bonds payable 190,000 Total liabilities 521,175 Shareholders' equity Common shares 280,000 Retained earnings 332,725 Total shareholders' equity 612,725 Total liabilities and shareholders' equity $1,133,900 $154,000 45,500 199,500 195,000 394,500 $144,400 44,000 188,400 200,000 388,400 280,000 297,300 577,300 $971,800 300,000 154,200 454,200 $842.600 Additional information: 1. 2 All sales were on account. Weighted average common shares in 2021 were 57,000 and in 2020 were 59,000. (a) Calculate the following ratios for 2021 and 2020. (Round earnings per share, current ratio, acid-test ratio and asset turnover answers to 2 decimal places, eg. 1.83 or 1.83% and all other answers to 1 decimal place, eg. 1.5 or 1.5%. Use 365 days for calculation.) 2021 2020 1. Gross proht margin % 2. % 3. $ $ 4. times times 5. days days 6. Profit margin Earnings per share Receivables turnover Collection period Inventory turnover Days sales in inventory Return on common shareholders' equity Return on assets Current ratio times times 7. days days 8. % % 9. % 10. 11. Acid-test ratio 12. Asset turnover times times 13. Debt to total assets %